Location: Presque Isle County, MI | Metro: Presque Isle County, MI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
U.S. Census Bureau data (2024)
A household in ZIP code 49759, with a median income of $56,944, faces significant challenges in affording the market rate rent of $646 according to the latest Census ACS data. This makes it difficult for residents to find suitable housing without financial strain.
The situation becomes even more strained when comparing the market rate to the Fair Market Rent (FMR) set at $980 for metro areas in fiscal year 2026. At $980, the FMR is well above the median household income, indicating that many residents would struggle to meet this higher standard without assistance.
With only 9.8% of the 1,376 population being renters, the competition among landlords is likely to be fierce. The low number of renters suggests a limited pool of potential tenants, making it crucial for landlords to consider their rental strategies carefully.
The affordability gap between the median income and both the market rate and FMR highlights the importance of Section 8 vouchers for securing tenants. While the market rate of $646 is closer to the median income, it still represents a substantial portion of monthly earnings. The FMR of $980 is significantly out of reach for most households.
Landlords should take note of these figures when deciding between accepting voucher payments or relying on cash-paying tenants. Given the financial constraints faced by many residents, properties that accept Section 8 vouchers may have an advantage in attracting and retaining tenants. However, landlords must weigh this against the administrative complexities and sometimes slower payment cycles associated with voucher programs.
In summary, the median income in ZIP 49759 is insufficient to cover the $646 market rate rent, let alone the $980 FMR. Landlords operating in this area should consider the benefits of participating in the Section 8 program to remain competitive and ensure occupancy rates. Accepting vouchers could provide a steady stream of tenants despite the lower rent compared to market rates.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.